Assessment of the effectiveness of organisational risk management systems
Assessment of the effectiveness of an organisation’s risk management system (RMS) is the process of analysing and comparing achieved results against planned goals and objectives in risk management. This evaluation determines the organisation’s level of protection against potential threats, identifies opportunities, and uncovers vulnerabilities or areas in need of improvement to advance the company’s financial stability and competitiveness.
Areas of RMS effectiveness assessment:
- Analysis of the sufficiency of RMS components for effective risk management and their integration into the organisation’s business processes.
- Review of information on risks that have materialised within the organisation.
- Evaluation of the completeness of risk identification and accuracy of risk assessments.
- Assessment of control design for managing risks.
- Evaluation of the effectiveness of control procedures and other risk management measures.
- Analysis of the efficiency of resources allocated for risk management (if required).
- Development of recommendations to boost RMS effectiveness.
- Creation of a roadmap for enhancing RMS effectiveness.
Upon completion of the RMS effectiveness assessment, the client receives:
- Evaluation of the RMS’s effectiveness.
- Assessment of the efficiency of resources distributed for risk management (if required).
- Recommendations for upgrading the organisation’s RMS.
Our advantages
Solid Reputation
FBK consistently takes top positions in RAEX largest industry ranking and other professional rankings.
Expert Team
FBK experts have proven expertise – audit diplomas, ACCA (DipIFR) certificates, IAB and professional accountant certificates from the Institute of professional accountants of Russia (IPAR).
One-stop shop principle
Each project is supervised by a dedicated project manager to ensure seamless coordination.
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